Member Info for observer842

Indeed @EV, if only we hadn't been once, twice, thrice bitten. LoL. It's not stopping me piling in though... I can DMOR, the port watching is fun, the courts less so! The other thing which is perhaps stopping me counting my chickens before they have hatch is I can't quite believe how many I'll have when they do! :-)))).

LoL @EV. I'll play devil's advocate and say it wouldn't be the first time he's misspoke! To be fair, if the board BELIEVE it's a fait accompli, then I guess they should tell us this, even though a right royal doozy might be sprung on us from left-field halting proceedings at the eleventh hour. Twist your tongue around that one!

This share has history - if it didn't I'd wager we'd be in the 40's now, perhaps even 50's. This is what makes buying round the BoD's option price of 29p feel such a bargain to me today, and hopefully confirmed in hindsight tomorrow, metaphorically speaking. ;-)

Ob.

I guess if it turns out the ghost ship is #6, and the deal completes before this is known, then in hindsight we should perhaps have gone all in... LoL. Though I doubt I'll ever go all in on any share, but it would be tempting if court or port watching revealed irrefutable, and I mean irrefutable, not just circumstantial evidence that the deal had gone through, and was sufficiently favourably to rise our share price, BEFORE the RNS announced this more widely.

Wow. Not much gets past you @EV! ;-) I saw it appear with a name, I saw the name disappear. I haven't given it any thought since... LoL. Perhaps I should don my conspiracy hat! ;-) I know the name and I suppose I should keep an eye on it, but would it matter if there were now two named DEV ships since we know they can, and have shipped other ore, not just their own?

Possibly! There was a fair shuffle in the shipping schedule today, though I'll believe it when I see 4 DEV ships set sail this month... Optimistic planning for success?

Excellent spot @EV! That's the only "Dispatch Conclusions" in the main case that I can see. Fingers crossed! Did it land after 16:30...?

And this means the tension and excitement (from me at least!) is almost unbearable. But bear it I will...

Indeed @EV! What I find fascinating is that absolute no one knows where this will end up on the day of the announcement or in the following days and weeks. No one.

Spot prices and premiums increasing :-)))

http://www.custeel.com/en/csi.jsp
===[
Date Seaborne index 58% Fe fines Seaborne index 62% Fe fines Seaborne index 65% Fe concentrates premium Seaborne index 65% Fe fines Seaborne index 65% Fe pellets premium
2021-07-01 158.00 218.90 28.00 251.30 75.50
2021-06-30 156.00 217.30 28.00 249.80 68.50
2021-06-29 153.00 212.00 28.00 246.80 68.50
]===

LoL @Tradecraft, though does it beat @KIran gaslighting us over the $660m? Perhaps he's right, perhaps if Anglo valued its impaired 70% stake in Amapa at $462m, then 100% of Amapa would have a value of $600m. Perhaps? Somehow? LoL. No.

Yes indeed @degsie, thanks for pointing that out. Oddly, even though I copied this: "On 30 April 2021, the Company announced that 7,200,000 options had been issued to directors at an exercise price of 23.75p." directly from "18. EVENTS AFTER THE END OF THE REPORTING PERIOD" I didn't spot their mistake!

Indeed @EV. We should really be sat around 40-50p on AIM expectations at this point, but I'm sure you are happy with buying sub 30p, as I am! :-) I suspect we aren't due to the, ahem, history of this share... Once, twice, thrice, ... bitten! I'd LoL at this point if it weren't sadly so true. Hopefully not this time though! ;-)

LoL @MLQ. Part of me is glad the wider market isn't buying it at the moment as it has afforded me the opportunity to SIGNIFICANTLY up my stake in KDNC since the announcement of the AMAPA deal, and more so following the announcement of the BoD's options.

Indeed @Barksy, most, but not all questions answered: "On 30 April 2021, the Company announced that 7,200,000 options had been issued to directors at an exercise price of 23.75p." Looks like we might have to wait a few more months for that one, or even a year. As we have previously speculated it could be various aspects such as an important milestone was achieved, or the option to take remuneration as options was offered and taken. No telling really at this point. But doesn't stop us guessing! LoL ;-)

It does feel like no matter how many times this is mentioned the wider market just isn't buying it. Oh well, lets hope eyes open wide when we take our 20/27% :-)))

===[
As we have mentioned on numerous occasions, the opportunity to invest in such a project is rare within our industry, and we believe this project provides us with a potentially transformative asset for our Company. The Amapa Project gives Cadence the potential for an exceptional return on investment in the run-up to full production and an opportunity to become a significant shareholder in a mid-tier iron ore producer.
]===

LoL @tomcat. I looked up parseimistic! Great new word. I agree, perhaps they were going to write: "In addition, we have commenced various other work streams which will enable us to complete OUR INVESTMENT OF $6m and a pre-feasibility study. ;-)

LoL @tomcat. Just remove the "and" and it parses. But admittedly, perhaps they were going to write something there but changed their mind...

Some interesting titbits and the headline figures might draw eyes our way :-)))

===[
During the year, we spent our time negotiating with secured bank creditors. This process was frustrating, given that we have been dealing with four banks across five different time zones and three different business cultures and various internal approvals. This was further complicated that during the process, two of the banks underwent a merger and changed personnel and processes. Nonetheless, all parties reached an agreement in principle in late 2020.
...
at the time of writing, we understand the secured creditors have had either credit committee approval or are awaiting it, and the final settlement agreement has been circulated and is with the respective legal teams for review.
...
However, given the delays we have seen in finalising the settlement, the secured bank creditors, DEV, Cadence and Indo Sino, have agreed to progress straight to pre-feasibility level studies. This will shorten the overall development timeline, save capital and provide a more accurate estimate of capital and operational costs (25%-30% as opposed to 45%-50%).
...
An independent survey of these stockpiles carried out post the year-end indicates some 1.39 Mt (+/- 10%) of iron ore in three stockpiles with an average Fe grade of 58%.
]===

If this does pay off @EV, I'll be the first to follow you to other shares where research can, and does give you an edge! ;-)

It's reasonably clear to me that they are planning/hoping/fingers crossing the deal completes soon (Tm!) - whether the deal will close soon though is anybody's guess. Could be tomorrow... ;-)